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Sandro's parent acquired in private equity deal

The SMCP Group, the parent company of French brands Sandro and Maje, has been acquired by US private equity giant Kohlberg Kravis Roberts & Co (KKR).

KKR acquired a majority 65% stake in the brands from current owners L Capital and Florac, in a deal reportedly worth around £556m.

The brand’s founders - sisters Evelyne Chétrite and Judith Milgrom as well as Elie Kouby and Frédéric Biousse - will retain 35% of the company.

Biousse, chief executive of SMCP, said: “KKR’s global presence and extensive experience and track record in the international retail sector will be important assets in helping us continue our growth trajectory.”

SMCP operates around 570 points of sale worldwide for its brands.

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